omniture

10 Years in China -- Axa Assistance on Course for Growth

- A global network, international knowledge and local talent are the key factors for the continued successful expansion of AXA Assistance in China.
- Ambitious targets: The emergency response specialist with French roots aims to triple its China turnover within three years. China is the fastest growing of all AXA Assistance markets.
- Recent growth to be continued and accelerated with a strong focus on digital innovations.
AXA Assistance
2015-11-27 16:00 4044

SHANGHAI, Nov. 27, 2015 /PRNewswire/ -- AXA Assistance celebrates its ten-year anniversary in the Chinese market. The daughter company of the French AXA Group, specialized on B2B insurance services such as roadside assistance, travel assistance and high-quality health services, looks back on a successful first decade in the Middle Kingdom. "It was a decade of foundation building. We established our Operations Center in Suzhou and two sales offices in Beijing and Shanghai," explains Daniel Cheung, CEO of AXA Assistance China. With more than 140 employees, AXA Assistance handles 96,000 roadside cases and 170,000 calls per year. "We have built strong partnerships with leading banking, insurance, travel and car companies and have established collaborations with 400 medical institutions throughout the country, covering areas even as remote as Tibet, Xinjiang and Ningxia. We accomplished strong growth in the last ten years. In fact, China now is the fastest growing of all AXA Assistance markets," says Mr. Cheung.

In the fast lane

In the coming three years, AXA Assistance aims to triple its China turnover. The insurance experts currently also explore possibilities to open further subsidiaries in other parts of China. In a market with a rapidly growing middle class that is purchasing cars, travels around the world and wants to ensure best medical security, Daniel Cheung sees many growth opportunities for his company: "We aim to expand the market share in all of our main service domains." Currently, the most sought-after service of AXA Assistance in the Chinese market is roadside assistance - not surprising, given the status of China as the world's biggest car market. Mr. Cheung: "We expect our roadside assistance services to grow further, and we also expect strong and continuing growth in travel assistance and health services."               

In health services, AXA Assistance aims to leverage the company's expertise and worldwide cooperation with first class medical institutions. This worldwide network includes 40,000 medical professionals. "We established the elite medical network, gathering the world's best medical teams selected by an independent panel. The panel is chaired by a Nobel Prize winner for Medicine," adds Mr. Cheung.

Retaining local talent and knowledge is a key success factor on this expansion track. "We are committed to the market and aim to continue our strong focus on talent development. We empower our experts for local decisions, push for autonomy and offer opportunities in a dynamic company. With the combination of international knowledge and local talent we can ensure highest quality of services," explains Mr. Cheung.                             

Asia is the heartbeat of the world

Having been active in Asia since the early 1980s, the markets in the Far and South East are now becoming ever more important for AXA Assistance. Asia CEO Xavier Blanchard: "China and Asia are the heartbeat of our global world - this is where 'tomorrow' is. The Asian markets combine today only for 15% of the earnings of the AXA Group, but already a third of the revenues and more than 50% of the growth - this in itself is a good picture on what is at stake."

In recent years, AXA Assistance grew rapidly throughout Asia and now runs offices in Mainland China, Taiwan, Hong Kong, Japan, India, Thailand and Singapore. The strong presence in many Asian countries is an important asset. Mr. Blanchard: "We provide the best access to Asia for any partner who focuses on Asia-wide synergies as well as regional presence and propositions."

Among all the Asian markets, the development in China was the fastest and the most complex, states the Asia CEO: "The reason for that is simple: China is almost a continent in itself, where each province could have the potential of a European country. With a strong engagement at the provincial level and the local knowledge, there are extensive possibilities for growth."

Digital innovations

AXA Assistance will continue to expand not only in China, but also in other Asian countries in the coming years. "We want to double the size of our company in Asia in the next three years. There are large, quickly maturing markets. Client needs are sophisticating very fast. That means that we as an organization also need to adapt to the changing needs", says Xavier Blanchard. Investments in digital services and R&D are therefore of key importance in the AXA Assistance strategy. Mr. Blanchard: "With a whole set of innovations in the pipeline, notably in the area of digital developments, we are prepared for the changing market environments and client needs. We will continue to build a strong, unique footprint in Asia."

About AXA Assistance:

AXA Assistance is a leading global assistance provider and a wholly owned subsidiary of the AXA Group that operates in four main business areas: Vehicles, Travel, Home and Health. It earned revenues of 1.3 billion Euros in 2014, handles over 9.4 million cases per year and employs over 7,500 people in more than 30 countries on five continents. AXA Assistance entered the Chinese market in 2005 and now runs offices in Beijing and Shanghai as well as an Operations Center in Suzhou. With more than 140 employees in these three locations, AXA Assistance handles over 96,000 roadside cases and 170,000 calls per year.

Website: www.axa-assistance.com.cn

Source: AXA Assistance
Keywords: Insurance Travel
collection